Prestbury Medway Propco Limited

Directors' Report for the Period Ended 31 March 2026

The directors present their report and the first financial statements of the company for the period from incorporation to 31 March 2026.

Incorporation

The company was incorporated on 23 January 2025.

Directors of the company

The directors who held office during the period and to the date of this report were as follows:

B Walford (appointed 23 January 2025)

S L Gumm (appointed 23 January 2025)

Principal activity

The principal activity of the company is ownership, management and letting of commercial property in United Kingdom.

Statement of directors' responsibilities

The directors acknowledge their responsibilities for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 October 2026 and signed on its behalf by:
 

......................................... S L Gumm Director

Prestbury Medway Propco Limited

Statement of Comprehensive Income for the Period Ended 31 March 2026

	Period ended 31 March 2026 £
Turnover	2,020,480
Administrative expenses	(229,544)
Operating profit	1,790,936
Other interest receivable and similar income	12,586
Profit before tax	1,803,522
Taxation	(99,122)
Profit and total comprehensive income for the financial period	1,704,400

The above results were derived from continuing operations.

Prestbury Medway Propco Limited

(Registration number: 16203296)
Balance Sheet as at 31 March 2026

	Note	2026 £
Fixed assets
Investment property	4	27,490,842
Current assets
Debtors	5	853,355
Cash at bank and in hand		696,978
		1,550,333
Creditors: Amounts falling due within one year	6	(962,675)
Net current assets		587,658
Total assets less current liabilities		28,078,500
Creditors: Amounts falling due after more than one year	6	(27,304,000)
Net assets		774,500
Capital and reserves
Called up share capital	7	100
Profit and loss account		774,400
Shareholders' funds		774,500

For the financial period ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 15 October 2026 and signed on its behalf by:
 

......................................... S L Gumm Director

Prestbury Medway Propco Limited

Statement of Changes in Equity for the Period Ended 31 March 2026

Period ended 31 March 2026	Share capital £	Profit and loss account £	Total £
Profit and total comprehensive income for the period	-	1,704,400	1,704,400
Dividends paid in the period	-	(930,000)	(930,000)
Shares issued during the period	100	-	100
At 31 March 2026	100	774,400	774,500

Prestbury Medway Propco Limited

Notes to the Unaudited Financial Statements for the Period Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom. The registered office address is shown on page 1.

These financial statements were authorised for issue by the Board on 15 October 2026.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except where otherwise disclosed in these accounting policies certain items are shown at fair value.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest pound.

Disclosure of long or short period

This is the company's first accounting period. The accounting period has been lengthened to represent the period from incorporation on 23 January 2025 to 31 March 2026.

Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities may require the use of certain critical accounting estimates. It may also require the directors to exercise judgement in applying the accounting policies.

In preparing these financial statements the directors have had to make the following significant judgement:

Determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. There is an inevitable degree of judgement involved in that every property is unique and value can ultimately only be reliably tested in the market itself. The valuation method is further described in note 4 together with the valuation of the property at the reporting date.

There were no other significant judgements or areas of estimation uncertainty.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below.

Prestbury Medway Propco Limited

Notes to the Unaudited Financial Statements for the Period Ended 31 March 2026

2	Accounting policies (continued)

Turnover

Turnover represents rental income receivable under operating leases and insurance recharges credited to profit or loss on a straight line basis over the term of the leases.

Rent free periods and lease incentives are spread over the period to lease expiry or, where it is reasonable to be certain that a tenant break clause will be exercised, to the break date.

Where the company acts as principal in relation to insurance arrangements, amounts recharged to tenants are recognised as revenue on a gross basis, with the related insurance premiums recognised separately as expenses. The income and expenditure is recognised over the period to which the premiums relate. Where the company acts as agent in relation to other services provided to tenants, amounts collected on behalf of third parties are not included in revenue.

Turnover arises solely in the United Kingdom.

Tax

The tax expense for the year comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Current tax assets and liabilities are not discounted.

Investment property

Investment property is carried at its fair value, determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.
 
The company's cash at bank and in hand, trade and other debtors, trade and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method, where appropriate.

Cash and cash equivalents

Cash is represented by cash in hand and deposits held with financial institutions repayable without penalty on notice of not more than 24 hours.

Trade debtors

Trade debtors are amounts due from tenants in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Prestbury Medway Propco Limited

Notes to the Unaudited Financial Statements for the Period Ended 31 March 2026

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable, interim dividends when paid and final dividends when approved by the shareholders at an annual general meeting.

3	Employees and directors

The company had no employees and 2 directors during the period. The directors did not receive any remuneration in the period.

4	Investment properties

	2026 £
Additions in the period	27,490,842
At 31 March 2026	27,490,842

The investment property was valued at 31 March 2026 by B Walford MRICS, a director of the company, at fair value, supported by reference to market evidence of capitalisation yields, average rents and transaction prices for similar properties.

5

Debtors

	2026 £
Trade debtors	196,917
Amounts owed by parent undertaking	547,754
Prepayments	60,663
Accrued income	34,848
Other debtors	13,173
	853,355

Prestbury Medway Propco Limited

Notes to the Unaudited Financial Statements for the Period Ended 31 March 2026

6

Creditors

Due within one year

	2026 £
Trade creditors	31,689
Corporation tax	99,122
VAT payable	145,104
Accruals and deferred income	685,221
Other creditors	1,539
	962,675

Due after more than one year

	2026 £
Loan from parent undertaking	27,304,000